FTAC Athena (NASDAQ:FTAA) has announced that it will cancel its special meeting scheduled for Wednesday, February 15 to extend its transaction deadline.
The SPAC currently faces a completion deadline of February 25, but was hoping to gain shareholder approval at the meeting to extend its timeline up to six times for an additional one month each time, to August 25.
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OceanTech I (Nasdaq: OTEC) announced this afternoon that it is mutually terminating its combination with Majic Wheels Corp.
The SPAC did not elaborate further on the termination but noted it will continue on and seek a new business combination.
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Just when you think the excise-tax issue might be getting close to being resolved… and then a new log gets thrown onto the fire.
In the ongoing discussion of the 1% excise tax issue, there seemed to be some consensus being built among investors and teams that it was verboten to ask investors to pay for it.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Mike Cagney, the former chief executive officer of lending giant SoFi, is searching for investors for his latest startup, Figure Technologies Inc.
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Anzu Special Acquisition Corp. I (NASDAQ: ANZU) announced this morning that it has signed a non-binding letter of intent (LOI) to combine with Envoy Medical at an equity value of approximately $150 million.
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Aesther Healthcare Acquisition Corp. (NASDAQ:AEHA) announced this morning that its shareholders approved its combination with biotech firm Ocean Biomedical at a special meeting held on February 3.
The filing did not divulge redemption figures or a closing time, but the SPAC’s shares spiked to a high of $12.50 on the day of the vote before settling to a close at $11.00, above its estimated trust value of $10.20 per share.
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Priveterra Acquisition Corp. (NASDAQ:PMGM) announced in an 8-K this morning that it has rescheduled its extension vote for a second time, now set for noon, February 10.
The SPAC is also now seeking pulling back the final length of the extension from September 11 to August 11.
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AMCI Acquisition Corp. II (NASDAQ:AMCI) announced in an 8-K this morning that it has signed a new forward purchase agreement (FPA) covering up to two-thirds of its outstanding public shares.
The agreement comes in the form of an over-the-counter equity prepaid forward transaction, under which the investor, ACM ARRT H, will purchase up to 10,000,000 shares previously tendered for redemption before close.
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Forest Road II (NYSE:FRXB) and 10X Capital Venture III (NYSE:VCXB) both announced this afternoon that they have mutually terminated their business combinations.
Forest Road II intended to combine with transportation technology developer HyperloopTT, but the parties decided to nix the deal due to timing constraints along with unfavorable market conditions.
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Intelligent Medicine Acquisition Corp. (NASDAQ:IQMD) and AMCI Acquisition Corp. II (Nasdaq: AMCI) announced this afternoon that they have adjourned their special meetings with shareholders.
Intelligent Medicine originally scheduled its meeting to be held today, but is now postponing its vote until Wednesday, February 8.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Comcast dumped 18.5% of its BuzzFeed (NASDAQ:BZFD) stock in recent days, reducing its holdings in the online media company to just under 20% of the shares.
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Viveon Health (NYSE:VHAQ) announced this morning that it is unilaterally terminating its combination with Suneva Medical “based upon material breaches” of the merger agreement.
The SPAC did not elaborate further on its claims against Suneva, but noted it will continue on and seek a new business combination.
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FAST II (NYSE:FZT) announced this morning that it has amended its combination with resort operator Falcon’s Beyond, shifting more value from both sides into earn-outs.
The deal’s $1 billion enterprise value technically remains, but Falcon’s Beyond shareholders will receive less equity at close.
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A SPAC I Acquisition Corp. (NASDAQ:ASCA) announced this afternoon that it has adjourned its special meeting to extend its timeline to complete a business combination.
The meeting was originally scheduled to be held today, but is now being postponed until February 13 due to a change in terms for its extension. A
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Travel marketplace and technology platform Mondee (NASDAQ:MOND) has acquired Brazil-based travel provider Orinter in a transaction valued at $40 million.
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Itiquira Acquisition Corp. (Nasdaq: ITQ) announced today it intends to dissolve and liquidate at an estimated per-share redemption price of approximately $10.17.
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Bill Ackman is still tinkering with his SPARCs.
In a new S-1/a filed this morning, the Pershing Square founder provided an update to his proposed model that is “not a SPAC”, but that would do some SPAC-like things.
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On January 30, 2023, the stockholders of DTRT Health Acquisition Corp. (Nasdaq: DTRT) approved an amendment to allow the company to redeem all of its issued and outstanding shares of Class A common stock in advance of its current termination date of March 7, 2023 by changing the date to January 30, 2023.
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